The Blackstone Group L.P. PT Raised to $44.00 at JMP Securities (BX)
Investment analysts at JMP Securities upped their price target on shares of The Blackstone Group L.P. (NYSE:BX) from $42.00 to $44.00 in a note issued to investors on Friday. JMP Securities’ target price points to a potential upside of 28.88% from the stock’s previous close.
The Blackstone Group L.P. (NYSE:BX) traded up 3.13% on Friday, hitting $35.21. The stock had a trading volume of 5,666,429 shares. The Blackstone Group L.P. has a 52-week low of $21.30 and a 52-week high of $35.39. The stock’s 50-day moving average is $33.01 and its 200-day moving average is $32.06. The company has a market cap of $20.446 billion and a P/E ratio of 16.06.
The Blackstone Group L.P. (NYSE:BX) last announced its earnings results on Thursday, July 17th. The company reported $0.65 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.69 by $0.04. The company had revenue of $938.88 million for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 56.2% on a year-over-year basis. Analysts expect that The Blackstone Group L.P. will post $3.36 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 4th. Shareholders of record on Monday, July 28th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 6.44%. The ex-dividend date is Thursday, July 24th.
A number of other firms have also recently commented on BX. Analysts at Credit Suisse raised their price target on shares of The Blackstone Group L.P. from $40.00 to $41.00 in a research note on Friday. Separately, analysts at RBC Capital raised their price target on shares of The Blackstone Group L.P. from $39.00 to $41.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of The Blackstone Group L.P. from $37.00 to $42.00 in a research note on Friday. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $36.46.
The Blackstone Group L.P. (NYSE:BX) is a manager of private capital and provider of financial advisory services.
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